National Bank suspends license of Eximbank Kazakhstan for receipt of deposits from individuals and opening bank accounts for individuals until August 29, 2018 inclusive

KASE, May 29, 2018/ – The National Bank of the Republic of Kazakhstan (National Bank) published the following press release on its website on May 29, 2018: quote The validity of license of the Bank of Astana (hereinafter, the Bank) for receipt of deposits from individuals and opening bank accounts for individuals was suspended by the Resolution of the Board of the National Bank of the Republic of Kazakhstan No. 91 dated May 28, 2018 from May 29, 2018 until Augus 29, 2018 inclusive. This decision was made by the National Bank as part of the supervisory response measure for violation of the banking legislation requirements by the Bank on the grounds provided for in sub-items d) and i) of item 1 of Article 48 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" for repeated (three times and more within twelve consecutive calendar months) breach of prudential standards and regulatory legal acts. The lisence is suspended for attracting new deposits from individuals and to opening new bank accounts for individuals and the suspension does not affect existing deposits and clients of the Bank. As at May 1, 2018, the volume of individuals’ deposits of the Bank amounts to KZT267 mln. The share of the deposit portfolio of the Bank’s clients amounts to 0.003% of the total deposits of individuals in the banking system. For more details media representatives may contact us by tel: +7 (727) 704 585 e-mail: press@nationalbank.kz www.nationalbank.kz unquote [2018-05-29]